Highwoods Properties (NYSE:HIW) Sets New 52-Week High at $26.69

Highwoods Properties, Inc. (NYSE:HIW)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $26.69 and last traded at $26.60, with a volume of 370026 shares changing hands. The stock had previously closed at $25.89.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on HIW shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Highwoods Properties in a research report on Tuesday, January 30th. They issued a “buy” rating and a $28.00 target price for the company. Morgan Stanley boosted their target price on shares of Highwoods Properties from $18.00 to $21.00 and gave the company an “underweight” rating in a research report on Thursday, March 28th. Truist Financial upped their price objective on shares of Highwoods Properties from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Finally, Robert W. Baird upped their price objective on shares of Highwoods Properties from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Highwoods Properties currently has a consensus rating of “Hold” and a consensus price target of $24.38.

Highwoods Properties Stock Performance

The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.37. The company’s 50-day simple moving average is $24.96 and its 200-day simple moving average is $22.56. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 21.94 and a beta of 1.23.

Highwoods Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Shareholders of record on Monday, May 20th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 7.47%. The ex-dividend date of this dividend is Friday, May 17th. Highwoods Properties’s dividend payout ratio (DPR) is currently 163.93%.

Hedge Funds Weigh In On Highwoods Properties

Several institutional investors and hedge funds have recently added to or reduced their stakes in HIW. International Assets Investment Management LLC acquired a new position in Highwoods Properties in the 4th quarter valued at approximately $31,000. Riverview Trust Co bought a new stake in shares of Highwoods Properties in the 1st quarter valued at $34,000. Planned Solutions Inc. bought a new stake in shares of Highwoods Properties in the 4th quarter valued at $38,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Highwoods Properties in the 3rd quarter valued at $44,000. Finally, GAMMA Investing LLC bought a new stake in shares of Highwoods Properties in the 4th quarter valued at $53,000. 96.31% of the stock is currently owned by institutional investors and hedge funds.

Highwoods Properties Company Profile

Highwoods Properties, Inc, headquartered in Raleigh, is a publicly-traded (NYSE:HIW), fully-integrated office real estate investment trust (REIT) that owns, develops, acquires, leases and manages properties primarily in the best business districts (BBDs) of Atlanta, Charlotte, Dallas, Nashville, Orlando, Raleigh, Richmond and Tampa.